Working With Vendors and 1099 Types in SBS Financials
Our AP module is a comprehensive cash management system for controlling and streamlining your disbursements. The vendor set-up process gets you up and running quickly by importing vendor master records from your old system. As part of your system set up training, we walk you through entering and editing business units, terms codes, and vendor types. Automated 1099 processing saves time year round and eases the crunch at year-end. Another productivity booster is having integrated imaging accessible throughout the system. In accounts payable, this provides a seamless process for attaching invoice images, support documents, Excel® workbooks, and more.
1099 Transactions
With year-end duties looming, many of our customers are rediscovering the ease with which our system handles 1099 transactions as part of AP processing. Customer favorites include:
- Automatic accumulation of 1099 transactions as checks are processed
- Generating a complete audit trail of 1099 transactions that have been manually edited
- Ability to import 1099 transactions from other applications
Here's a quick look at the steps of our 1099 process:
- Vendor set-up includes the default 1099 type and box number.
- When choosing the vendor for invoice processing, the 1099 type and box number are automatically updated.
- The invoice is processed.
- The check is printed.
- When 1099 season rolls around, all 1099 transactions to date are compiled and ready for year-end processing.
Want to see more? Request a demo.
P.S. Our customers receive an AP End of Year Checklist to guide them through the process. It's one of the many resources we provide!
